How to Create Sources of Residual Income

Earn residual income by selling online.

It seems almost everyone is looking for ways to supplement their income. Some people are turning to the Internet to seek sources of residual income. If you aren't familiar with residual income, it is is a source of passive income that comes keeps rolling in long after you have put in the initial effort. Previously, only actors and authors earned "residuals" for their work, but the Internet has changed all of that, and there are now many ways to make money online and create your own residual income.

Difficulty:

Moderately Easy

Instructions

1. Sell your photographs online. If you have some basic photography skills and have a good eye for creative and unusual shots, you should consider selling your images on some of the various microstock photography websites. You can sell the same images over and over again and create a consistent flow of residual income. The more images you have in your portfolio, the more money you can make.

2. Sell your writing online. If you are a freelance writer or just a dabbler looking to hone your skills, you can sign up for a multitude of content websites that allow you to sell your articles online. Many of these content websites allow you to sell your articles for usage, which means they can sell over and over again to interested parties. In some cases, once you have sold a good amount of articles on these content websites, you might begin to get private requests for your writing. This will allow you to charge higher rates.

3. Sell your music online. If you are a producer or in a band or musical group and you would like to create some residual or royalty income, sell your music on some of the royalty-free music websites. Filmmakers who are creating Internet videos and short films need music for many of their projects. Since mainstream music is copyrighted, they turn to the Internet to find quality background music for their projects. Royalty-free music websites allow you to upload your songs and sell them online. You should be aware that you are releasing the rights to these songs once they sell.

4. Sell your arts and crafts online. If you create arts, crafts or homemade goods and would like to gain some profit from your labor of love, consider selling your items online. There are now specialized websites that actually focus on selling strictly homemade goods. Whether you are a quilter, knitter, candle maker or potter, you can sell these items online to a global marketplace. The key is creating high-quality items and taking good, clear photos of these items to post online. Include important details in your posting regarding craftsmanship and time and effort to attract buyers.

5. Complete trial offers online. If you need to create an immediate source of income, look into trial-offer websites. These websites actually pay you cash to complete simple trial offers and surveys. While you won't get rich doing this, you can create a source of supplemental income and earn a few dollars per hour for your time. The best part is that many of these websites have referral programs. If you refer other people, you can earn residual income by getting a percentage of their earnings. Be careful when signing up for trial-offer websites, as there are many scams online. Never give your social security number or credit card to a trial-offer website.

References

• Scope for Money: Make Money Online by Creating Various Sources of Residual Income
• Residuals and Royalties: Make Money Online